Polestar Automotive Holding UK (NASDAQ:PSNY) Shares Gap Up to $0.95

Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $0.95, but opened at $0.99. Polestar Automotive Holding UK shares last traded at $0.96, with a volume of 2,563,601 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PSNY shares. Citigroup reduced their target price on Polestar Automotive Holding UK from $2.50 to $1.70 and set a “neutral” rating for the company in a research note on Thursday, May 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price objective on shares of Polestar Automotive Holding UK in a research report on Friday, April 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $2.00 price objective (down from $3.00) on shares of Polestar Automotive Holding UK in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Polestar Automotive Holding UK has an average rating of “Hold” and a consensus target price of $3.48.

Polestar Automotive Holding UK Stock Down 9.0 %

The business has a fifty day simple moving average of $1.39 and a 200 day simple moving average of $1.79.

Hedge Funds Weigh In On Polestar Automotive Holding UK

Institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its holdings in Polestar Automotive Holding UK by 10.7% in the 3rd quarter. Invesco Ltd. now owns 2,833,547 shares of the company’s stock valued at $7,481,000 after purchasing an additional 273,479 shares during the period. Green Alpha Advisors LLC bought a new position in Polestar Automotive Holding UK during the 4th quarter worth $616,000. Tobam raised its holdings in Polestar Automotive Holding UK by 24.0% in the 4th quarter. Tobam now owns 1,136,540 shares of the company’s stock valued at $2,569,000 after acquiring an additional 220,147 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Polestar Automotive Holding UK during the 3rd quarter valued at $532,000. Finally, Mariner LLC grew its holdings in shares of Polestar Automotive Holding UK by 207.5% during the 3rd quarter. Mariner LLC now owns 252,901 shares of the company’s stock worth $668,000 after purchasing an additional 170,660 shares in the last quarter. 1.02% of the stock is currently owned by institutional investors and hedge funds.

About Polestar Automotive Holding UK

Polestar Automotive Holding UK PLC manufactures and sells premium electric vehicles. The company was founded in 2017 and is headquartered in Gothenburg, Sweden.